I wrote 05/14 ‘the first ST mechanical indication of weakness would now be a RTH close below the 05/13 Buying Day Low at 7399.0‘ (dashed on chart). Tuesday’s RTH close was below that level, circled on chart. We also saw Resistance yesterday at 7412.50, the minor Control, see arrow on chart. Significant Selling (red) has […]

The minor Control is at 7412.50 and I wrote on Monday that ‘price relative to that level is worth monitoring at the start of this week‘. Note that ES spent most time on Monday very close to that level. When the market is ‘nervous’ ahead of a risk event it will often print close to […]

I referenced the minor Control at 7412.50 twice last week, see notes 04/13 & 04/14. Friday’s Sell-off tested the Control but held and price relative to that level is worth monitoring at the start of this week. I also wrote on 05/14 that ‘the first ST mechanical indication of weakness would now be a RTH […]

I wrote pre-RTH yesterday ‘There is 13day Support today at 7412.5 and price relative to that level is worth monitoring‘. There was a rejected test of 7412.5 immediately at RTH Open on Wednesday and ES rallied strongly. This is Buyers Responding just where you’d want them to and positive price action. Significant Buying (green) was […]

ES dipped early in Tuesday’s RTH but recovered. There is 13day Support today at 7412.5 and price relative to that level is worth monitoring today but the first ST mechanical indication of weakness would still be a RTH close below last Wednesday’s Buying Day Low at 7327.25 (dashed on chart).

LT: See previous Bullish comments and targets, highlighted on chart. ST: I wrote pre-RTH Friday that if ES printed above 7396.5 post RTH Open we could see another strong end to the week. That worked out well off the Open and the strong end to the week was extended on Monday. That Minor Control though […]

ST: Minor (5day) Control has emerged at 7396.5. Price relative to that level is worth monitoring today. If ES prints above that price post RTH Open we could see another strong end to the week.The first ST mechanical indication of weakness would be a RTH close below Wednesday’s Buying Day Low at 7327.25 (dashed on […]

ES powered ahead to another ATH. On Wednesday, Significant Buying (green) was marked for the fifth time since the low on 30th March which was also the last day that Significant Selling (red) was marked. The first ST mechanical indication of weakness would be a RTH close below yesterday’s Buying Day Low at 7327.25 (dashed). […]

Overnight ES has printed above 7360. The breakout and extension had been anticipated – see previous, highlighted notes on chart. On 04/17 I established bullish targets for ES and SPY if the Major Control held as Support, which it did, see that note on chart. Monitoring the trend now and looking for indications of where […]

I wrote pre-RTH on 04/30 ‘as long as 7157 is held, ES is in position for a strong end to the week‘. That’s what we saw. Three consecutive Value Areas have since been generated above 7157 which is a further positive and that level is First Support.ST: A v. short-term Control has emerged at 7252.5 […]